.jpg){kind=avatar}
British digital bank Monzo has withdrawn its application for a U.S. banking license after more than two years of negotiations with regulators. The bank said it was still committed to growing its U.S. venture - which it launched in 2019 - and would invest further in Britain.
{
"Following recent engagement with the OCC (Office of the Comptroller of the Currency), we've decided to withdraw our banking license application for our U.S. start-up," Monzo said in a statement.
https://www.reuters.com/business/finance/monzo-abandons-us-banking-licence-bid-2021-10-04/
More posts by Sarah Wolter
Recent posts from News by FinTech Collective